06 August 2011

Ratings agencies

Standard and Poors have downgraded the US debt rating to AA+ with a negative outlook.

I find myself increasingly wondering how on earth these unelected bodies gained so much power in the global economy.

Message to governments everywhere: act in the interests of the people, not the ratings agencies.

1 comment:

jams o donnell said...

Hmm they don't exactly seem to be that accurate given their ratings to organisations that went bust a few years back